Economist comments on world dairy supply
A market economist says the world milk supply is growing slightly. Katie Burgess says the milk prices remain up and down, but prices are lower than producers would like to see. She tells Brownfield globally, there’s more milk on the market. “We’ve got more milk here in the U.S. We’ve got lots of milk coming in Europe as well, and while New Zealand is still down in milk, they’re looking a little bit better so supply globally is in a lot better position than we were a year ago at this time.”
And she says demand has been on shaky footing, leading to lower prices across the globe. “When we’re seeing China, one of the biggest buyers be on the sidelines for the past six months, it means that there just is a little bit more globally than there had been leading to the decline in prices we’ve seen recently.”
Burgess spoke to Brownfield at the Dairy Business Association’s Dairy Strong Conference in Madison, Wisconsin Wednesday.